Many want to become billionaires, yet they have no clue where their money goes. It’s your money, shouldn’t you know when it comes in and where it goes when it leaves? For the next 30 days track everything that comes in, not what they say your salary is, but what you actually bring home or send to your bank account. At the same time, for those same 30 days track everything and every way you spend your money. Pay a bill – write it down. Go out to eat – write it down. Get a bonus – write it down.
At the end of those 30 days you should have a good idea of what comes in, what goes out, and any difference between the two. This is NOT setting up a budget, it’s just data gathering so you’ll be better informed about your money.
Once you do that for 30 days, you can set up some guidelines so you can manage your money well. It’s your money, you can tell it what to do. If you tell $25 to sit and stay, it won’t move until you decide to spend it.
Did you know that if you start your career making $25K/year and you continue working for 20 years that ½ a Million dollars will pass through your hands? And that’s if you’re a slacker and never get a raise during those 20 years! That’s a significant chunk of change.
You are now the CEO of a potential $1,000,000 firm – You, Inc. What you do with you and how you handle your resources can make or break the future of that firm.
It’s that simple.
It’s your money – learn to get along with it.